Infrastructure-as-a-Service Market to be Worth $411.9 Billion by 2030 by Meticulous Research

Meticulous Research®-a leading global market research company, published a research report titled, 'Infrastructure-as-a-Service Market by Offering (Compute, Storage, Others), Deployment (Public, Private, Hybrid), Organization Size, Application (Hosting, Others), Sector (IT & Telecommunications, BFSI, Others), & Geography - Global Forecast to 2030.'

According to this latest publication from Meticulous Research®, the infrastructure-as-a-service market is projected to reach $411.9 billion by 2030, at a CAGR of 22.6% during the forecast period. The growth of the infrastructure-as-a-service market is driven by the growing adoption of cloud infrastructure in the BFSI sector and enterprises' increasing preference for IaaS over conventional on-premise services. However, data privacy & security concerns restrain the growth of this market.

The growing adoption of cloud technologies among SMEs and the increasing focus on customized and managed cloud services are expected to create growth opportunities for the players operating in the infrastructure-as-a-service market. However, the shortage of skilled IT professionals is a major challenge for market growth. Additionally, Storage-as-a-Service (STaaS) and integration of advanced technologies with cloud infrastructure are key trends in the market.

Meticulous Research® has segmented this market based on offering, deployment, automation type, sector, and geography for efficient analysis. The study also evaluates industry competitors and analyzes the market at the regional and country levels.

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Based on offering, the infrastructure-as-a-service market is segmented into compute, network, storage, and other offerings. In 2023, the compute segment is expected to account for the largest share of the infrastructure-as-a-service market. The large market share of this segment is attributed to the increasing use of virtualized computing resources by SMEs due to limited IT budgets and increasing digital transformation by various sectors to transfer their workload to the cloud.

However, the storage segment is projected to register the highest CAGR during the forecast period. The growth of this segment is driven by the increasing volume of data in large enterprises and the increasing demand for storage solutions to reduce the installation and maintenance costs of data centers.

Based on deployment mode, the infrastructure-as-a-service market is segmented into public cloud, private cloud, and hybrid cloud. In 2023, the public cloud segment is expected to account for the largest share of the infrastructure-as-a-service market. The large market share of this segment is attributed to the increasing use of the public cloud by small and medium-sized enterprises due to the lower cost of subscription-based or pay-per-usage pricing models in the public cloud.

However, the hybrid cloud segment is projected to register the highest CAGR during the forecast period. The growth of this segment is driven by the increasing deployment of hybrid cloud by organizations to improve performance and increase security, modernize existing infrastructure, reduce cost, and use both public & private cloud according to the company requirements.

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Based on organization size, the infrastructure-as-a-service market is segmented into large enterprises and small & medium-sized enterprises. In 2023, the large enterprises segment is expected to account for the larger share of the infrastructure-as-a-service market. The large market share of this segment is attributed to the growing adoption of advanced technologies such as cloud computing, AI, and blockchain and the rapid migration of IT infrastructure into the cloud. For instance, in November 2022, Amazon Web Services, Inc. (U.S.) partnered with Atos SE (France), a global leader in digital transformation, high-performance computing, and information technology infrastructure, to help Atos migrate its workload to AWS cloud to improve customer experience.

However, the small & medium-sized enterprises segment is projected to register the highest CAGR during the forecast period. The growth of this segment is attributed to the growing digital transformation, growing adoption of public cloud services, and benefits related to IaaS solutions such as low cost, security, and better computing processes.

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Based on application, the infrastructure-as-a-service market is segmented into testing and development, hosting, storage, backup and recovery, high-performance computing, and other applications. In 2023, the storage, backup, and recovery segment is expected to account for the largest share of the infrastructure-as-a-service market. The large market share of this segment is attributed to the increasing use of cloud storage applications in large enterprises due to the increasing volume of data and growing demand across SMEs to avoid the complexity of storage management, the lack of skilled professionals, and the reduction of cost. Moreover, this segment is also projected to register the highest CAGR during the forecast period.

Based on sector, the infrastructure-as-a-service market is segmented into IT & telecommunications, BFSI, healthcare, retail & e-commerce, government & defense, manufacturing, transportation & logistics, and other sectors. In 2023, the IT & telecommunications segment is expected to account for the largest share of the infrastructure-as-a-service market. The large market share of this segment is attributed to the increasing adoption of advanced technologies, including cloud computing, and the increasing use of the IaaS model to reduce data centers and increase storage capacity. For instance, Deutsche Telekom AG (Germany) is using Amazon Web Services, Inc. (U.S.) and Microsoft Corporation (U.S.) cloud infrastructure to reduce its data centers from 89 to 13 across the globe and increase computing and storage capacity by around 25%.

However, the retail & e-commerce segment is projected to register the highest CAGR during the forecast period. The growth of this segment is attributed to the increasing need to automate workflows and online transactions, the need for data integrity in the retail & e-commerce industry, and the increasing use of cloud infrastructure to store data and offer insights regarding customer preferences.

Based on geography, the infrastructure-as-a-service market is segmented into North America, Europe, Asia-Pacific, Latin America, and the Middle East & Africa. In 2023, North America is expected to account for the largest share of the infrastructure-as-a-service market. The large market share of this segment is attributed to the increasing government initiatives for the implementation of cloud computing technologies, the presence of major technology companies in the region, the high acceptance & extensive adoption of cutting-edge technologies in the region, and growing cloud adoption to manage security, infrastructure, network, business continuity, mobility, and regulatory standards within the cloud infrastructure. For instance, in April 2022, Amazon Web Services, Inc. (U.S.) extended its partnership with Boeing (U.S.), the leading manufacturer of airplanes, rotorcraft, rockets, satellites, and telecommunications equipment, to migrate Boeing's applications from on-premises data centers to AWS cloud to strengthen their engineering and manufacturing processes.

However, Asia-Pacific is projected to register the highest CAGR during the forecast period. The growing adoption of IaaS by small and medium-sized enterprises to reduce maintenance costs, the increasing proliferation of cloud computing services in China and Japan, and the presence of well-established IaaS providers in China are propelling the demand for infrastructure-as-a-service in the region. For instance, in November 2022, Amazon Web Services, Inc. (AWS) (U.S.) (a subsidiary of Amazon.com, Inc.) launched its second AWS infrastructure Region in India-the AWS Asia-Pacific (Hyderabad) Region. This infrastructure aims to allow developers, startups, entrepreneurs, enterprises, government, education, and non-profit organizations to migrate their workloads to data centers located in India.

Key Players

The key players operating in the infrastructure-as-a-service market are Google LLC (U.S.), Amazon Web Services, Inc. (U.S.), Microsoft Corporation (U.S.), Oracle Corporation (U.S.), IBM Corporation (U.S.), Cisco Systems, Inc. (U.S.), Alibaba Cloud (China), Huawei Technologies Co., Ltd. (China), SAP SE (Germany), VMware, Inc. (U.S.), Rackspace Technology, Inc. (U.S.), DigitalOcean LLC (U.S.), Hewlett Packard Enterprise Company (U.S.), Tencent Cloud (China), Linode LLC (U.S.), NTT Communications Corporation (Japan), Utho (India), and Vultr (U.S.).

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Scope of the Report:

Infrastructure-as-a-Service Market Assessment, by Offering

Compute
Network
Storage
Other Offerings

Infrastructure-as-a-Service Market Assessment, by Deployment Mode

Public Cloud
Private Cloud
Hybrid Cloud

Infrastructure-as-a-Service Market Assessment, by Organization Size

Large Enterprises
Small & Medium-sized Enterprises

Infrastructure-as-a-Service Market Assessment, by Application

Testing and Development
Hosting
Storage, Backup, and Recovery
High-Performance Computing
Other Applications

Infrastructure-as-a-Service Market Assessment, by Sector

IT & Telecommunications
BFSI
Healthcare
Retail & E-commerce
Government & Defense
Manufacturing
Transportation & Logistics
Other Sectors

Infrastructure-as-a-Service Market Assessment, by Geography

North America
U.S.
Canada
Asia-Pacific
China
Japan
India
South Korea
Rest of Asia-Pacific
Europe
U.K.
Germany
Italy
Spain
France
Rest of Europe
Latin America
Middle East & Africa

About Meticulous Research®

Meticulous Research® was founded in 2010 and incorporated as Meticulous Market Research Pvt. Ltd. in 2013 as a private limited company under the Companies Act, 1956. Since its incorporation, the company has become th e leading provider of premium market intelligence in North America, Europe, Asia-Pacific, Latin America, and the Middle East & Africa.

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